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The $70 million complex is a cooperation project between Kinh Bac City and Taiwanese company Foxconn. The township, with area of 790.79 hectares, is located near Cat Bi airport and right next to the end of the Hanoi-Haiphong expressway. When the whole of the expressway is open for traffic, it is going to take less than one hour to drive here from Hanoi so Hanoi residents can invest in a vacation home here.
Kinh Bac and Trang Cat also invested an estimated VND100 billion ($4.7 million) in the project to build a four-lane tunnel linking with the expressway to facilitate traveling to and from the project.
Trang Cat township and industrial zone features a high-tech industrial zone of 205.88ha, specifically designed to attract firms in electronics, IT and pharmaceuticals, and an urban area of 435.73ha that consists of houses, service and entertainment facilities and resort. There’s also a social housing and service area of 116.56ha and a green area of 32.62ha.
Kinh Bac City Development Holding Corporation is a prominent developer of industrial parks in Vietnam, with the Que Vo industrial park (IP) in the northern province of Bac Ninh, the Trang Due IP in Haiphong and the Tan Phu Trung IP in Ho Chi Minh City, among many others, in its portfolio. The company’s IPs have attracted many big projects by Korean and Japanese firms, including LG Electronics’ $1.5 billion project in the Trang Due IP.